Auckland's largest real estate agency group, Barfoot and Thompson, has reported its average sale price fell 3.2% in September from August to NZ$514,890 after listings rose by 12% to 1,466. Meanwhile sales volumes were 917 in September, which was the second highest for Barfoot and Thompson in 2009, reflecting a 'Spring bounce', Barfoots said. The average price was however up 3.8% on September a year ago. "This was the third consecutive month our average price for the month exceeded that for the corresponding average in 2008, and I take that as a good indicator that house prices on a year on year basis have stopped falling, said Peter Thompson, Managing Director of Barfoot & Thompson. "At the same time, prices are not overheating. There was a better balance and controlled feel to the market in September than has been the case for some time," Thompson said.

"The views of buyers and sellers as to what is a fair price are coming closer together. It shows that Aucklanders are prepared to put aside their concerns about the economy over the medium term, and are starting to act on their plans around their future." Barfoot & Thompson let 701 houses and units at an average weekly rent of NZ$384 in September, which was down NZ$15 on their high point in April.